National Instruments Corp (NATI) Expected to Announce Quarterly Sales of $322.77 Million

Brokerages expect National Instruments Corp (NASDAQ:NATI) to report $322.77 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for National Instruments’ earnings, with estimates ranging from $320.57 million to $324.96 million. National Instruments posted sales of $300.11 million during the same quarter last year, which would indicate a positive year over year growth rate of 7.6%. The company is scheduled to issue its next quarterly earnings report after the market closes on Thursday, April 26th.

On average, analysts expect that National Instruments will report full-year sales of $1.39 billion for the current fiscal year, with estimates ranging from $1.38 billion to $1.39 billion. For the next year, analysts expect that the firm will post sales of $1.50 billion per share, with estimates ranging from $1.47 billion to $1.53 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for National Instruments.

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National Instruments (NASDAQ:NATI) last announced its quarterly earnings data on Tuesday, January 30th. The technology company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. The business had revenue of $349.80 million during the quarter, compared to the consensus estimate of $347.38 million. National Instruments had a net margin of 4.06% and a return on equity of 10.76%. The company’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.34 earnings per share.

A number of analysts have weighed in on the stock. Zacks Investment Research cut shares of National Instruments from a “buy” rating to a “hold” rating in a research note on Wednesday, March 21st. BidaskClub raised shares of National Instruments from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 3rd. Robert W. Baird cut shares of National Instruments from an “outperform” rating to a “neutral” rating and set a $50.00 target price on the stock. in a research note on Monday, April 2nd. ValuEngine raised shares of National Instruments from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, Stifel Nicolaus boosted their target price on shares of National Instruments from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $47.75.

In related news, Director James J. Truchard sold 342,500 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $50.38, for a total value of $17,255,150.00. Following the sale, the director now owns 8,120,037 shares of the company’s stock, valued at $409,087,464.06. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director James J. Truchard sold 200,000 shares of the business’s stock in a transaction on Thursday, April 12th. The stock was sold at an average price of $50.32, for a total transaction of $10,064,000.00. Following the completion of the sale, the director now directly owns 6,822,537 shares in the company, valued at approximately $343,310,061.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,068,066 shares of company stock worth $54,172,521. Insiders own 7.98% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Zions Bancorporation bought a new stake in shares of National Instruments in the third quarter worth $129,000. JPMorgan Chase & Co. grew its stake in shares of National Instruments by 44.5% in the third quarter. JPMorgan Chase & Co. now owns 4,028 shares of the technology company’s stock worth $169,000 after purchasing an additional 1,241 shares during the last quarter. Magnetar Financial LLC bought a new stake in shares of National Instruments in the third quarter worth $204,000. Jane Street Group LLC bought a new stake in shares of National Instruments in the third quarter worth $248,000. Finally, AMP Capital Investors Ltd bought a new stake in shares of National Instruments in the third quarter worth $261,000. 76.94% of the stock is currently owned by institutional investors.

Shares of NASDAQ NATI traded up $0.22 during midday trading on Tuesday, reaching $50.54. 565,241 shares of the company were exchanged, compared to its average volume of 676,767. The stock has a market cap of $6,602.17, a PE ratio of 53.77 and a beta of 0.93. National Instruments has a one year low of $31.81 and a one year high of $53.57.

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National Instruments Company Profile

National Instruments Corporation (NI) designs, manufactures and sells systems to engineers and scientists. The Company offers a line of measurement, automation and control products. It offers products, technology and services, which include system design software, programming tools, application software, modular hardware products and related driver software, production test systems, NI education platform, software products for teaching and hardware products for teaching.

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